Black Swan Sighting: Massive fire at JPM Gold Warehouse

JPM Eligible Gold 7.19_0UPDATE:

Story Debunked at Zero Hedge> >>>

So far, 20 fire trucks and at least 4 ambulances plus NYPD have responded to a massive fire in the J. P. Morgan gold warehouse.   Located 10 stories below One Chase Manhattan Plaza on Wall Street, the repository currently holds an all-time low of 46,000 ounces.  With over one half million ounces reportedly standing against JP Morgan for the June contract, the dwindling supplies may signal something more ominous.

2008 saw the demise and bankruptcy of Lehman.

Merrill Lynch, AIG, Freddie Mac, Fannie Mae, HBOS, Royal Bank of Scotland, and others all came within a whisker of doing so and had to be rescued.

Considering that  the OTC market and futures and options are an estimated 92xgreater than the underlying physical market, this cannot, and will not, end well for holders of paper Gold, or the banking system overall.

Read more at Investment Watch

Habemas Papem

Breaking:  7:07 PM ….  Holy (white) Smoke!!  Awaiting the new Pope‘s first public appearance in Vatican City!

Update:  7.45  PM …   Amid great excitement, cheering crowds, and a festive atmosphere, the  new Pope about to be  announced to the world.

Watch LIVEstream Here 

Pope Francis I

Pope Francis I

Update:  8:12 PM …   “A man of the people”, a reformer from Argentina, 76 years old,  Cardinal Jorge M. Bergoglio is announced as the new Pope.

Update 8:22 PM … Pope Francis I is the new Vicar of Christ

..

Outage continues at Free Republic

Problems at popular news site “Free Republic” have continued into a second day.

“They changed their IP address last month from 209.157.64.201 to 209.157.64.200,” said conservative blogging legend Nuke Gingrich. I haven’t heard if they are having any technical issues. They finished their quarterly fundraiser a few days ago, so money’s not the problem. It’s too early to rule out cyber mischief from either the Chinese, or the Obama people. Neither one of them care too much for the bitter clingers over at FR,” Gingrich said.

We will continue to monitor the situation, and will provide updates as we learn more.

Breaking: San Bruno explosion live video

Amazing video from kgo tv7

((here))

Update: Live streaming has stopped ….

“6 dead, 54 homes burned to ground” Fox news….

raw video from AP …

Livestream Hawaii tsunami

from Honolulu …


Live stream of Hawaii tsunami coverage

TSA at Work: Michael Yon Arrested For Not Disclosing Income

From Hot Air.

Thank goodness our Homeland Security people are on the job after the EunuchBomber botched attack on Christmas Day.  We certainly don’t want to have independent war correspondents passing through our airports without revealing their annual income:

Got arrested at the Seattle airport for refusing to say how much money I make. (The uniformed ones say I was not “arrested”, but they definitely handcuffed me.) Their videos and audios should show that I was polite, but simply refused questions that had nothing to do with national security. Port authority police eventually came — they were professionals — and rescued me from the border bullies.

When they handcuffed me, I said that no country has ever treated me so badly. Not China. Not Vietnam. Not Afghanistan. Definitely not Singapore or India or Nepal or Germany, not Brunei, not Indonesia, or Malaysia, or Kuwait or Qatar or United Arab Emirates. No county has treated me with the disrespect can that can be expected from our border bullies.

Read it all: Hot Air

Four Washington police officers ambushed

“A scene out of a horror movie….”

LAKEWOOD, Wash. – Four police officers were shot and killed in a bloody Sunday morning ambush at a Lakewood-area coffee shop, officials said.

Pierce County Sheriff’s Office spokesman Ed Troyer called the ambush “a targeted attack” on the four Lakewood police officers as they were preparing to start their shifts at about 8:30 a.m.

Officials at the scene said one or two gunmen burst into the Forza Coffee Co. outlet at 11401 Steele St. South, shot the four uniformed officers as they were working on their laptop computers, then fled the scene.

related stories:

King5.com (video),

Suspect description from News Tribune,

More details from Fox News

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